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RTCA moves HC on Various Technical Issues under GST

September 9, 2017 1566 Views 0 comment Print

(a) Slow response time of the GSTN portal. (b) Specified Information Technology system requirement not readily available and understandable especially in rural areas. (c) The saved data automatically got lost which compelled the members of the Petitioner/assessee to fill again all the details. While filing information on the GSTN portal, repeatedly errors were shown with no explanation about the problem / rectification which need to be done by assessee. (g) While filing information on the GSTN portal, repeatedly errors were shown with no explanation about the problem/rectification which need to be done by assessee.

‘Tax Effect’ do not include Interest for calculation of Appeal filing limit

September 9, 2017 9765 Views 0 comment Print

No appeal should be filed before Tribunal in case tax effect does not exceed Rs.10 lakhs. The tax effect means the difference between tax on the total income assessed and tax that what have been chargeable had such total income been reduced by the amount of income in respect of issues against which appeal is intended to be filed. This circular further states that tax will not include any interest thereon the chargeability of interest itself is in dispute.

GST – Biggest Torture For Honest Taxpayer

September 9, 2017 7917 Views 18 comments Print

Till today, I use to mention you as MODI JI (a person, I could connect). But experiencing your dictatorship for last 1 year (on GST Issue), I am force to disconnect myself and mention you as Mr. Prime Minister (Dictator). In your speeches, you have termed yourself as PRADHAN SEVAK. But you are acting as Dictator, not SEVAK.

86 New FAQs under GST

September 9, 2017 35748 Views 6 comments Print

Are liquor shops and permit rooms required to file GST returns? Ans: Yes, if registration has been taken, then returns are to be furnished mandatorily even when there is no turnover. Alcoholic liquor for human consumption is dealt by state excise & VAT/CST laws and concerned returns are anyway required under these laws.

A humble request to relook at GST provisions

September 9, 2017 3621 Views 0 comment Print

After 2 months of GST implementation, it is practically felt that there are so many lacuna in it. There are big short falls in the provisions as well as in the administration fronts. Sir, we are really sorry to say that there is a deep sense of disappointment & unrest like situation among the small & medium business enterprises. These People feel that they are being cheated & labelled as tax evaders.

In granting approval to case manually selected for scrutiny CIT is required to show application of mind

September 8, 2017 2442 Views 0 comment Print

1. The argument of the assessee in this case is that the selection for scrutiny of this case manually done by the Assessing Officer is bad in law and that the Commissioner of Income Tax has granted approval for selection of this case for scrutiny by the AO without application of mind. Ld. Counsel for […]

How to download Return file from GST Portal and modify/delete earlier uploaded details

September 8, 2017 60219 Views 5 comments Print

1) User can download the saved invoices/details from online portal 2) To generate file for download GSTR1 click PREPARE OFFLINE → Download → GENERATE FILE. If any previously downloaded request done it will show the download link to download file. 3) To generate latest GSTR1 file click again on GENERATE FILE button and it will take 10-15 minutes to generate file.

Cyber Security and Cyber Resilience framework for Registrars to an Issue / Share Transfer Agents (RTAs)

September 8, 2017 1113 Views 0 comment Print

Rapid technological developments in securities market have highlighted the need for maintaining robust cyber security and cyber resilience framework to protect the integrity of data and guard against breaches of privacy.

Acquisition of ‘control’ under the SEBI Takeovers) Regulations, 2011

September 8, 2017 1839 Views 0 comment Print

Ascertaining acquisition of ‘control’ under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (“Takeover Regulations”) requires consideration of facts and circumstances of each case. This results in a multitude of opinions. In view of the same, it was decided by the Board, in its meeting held on March 12, 2016

MVAT: Certificate for purchase of Natural Gas at a notified concessional rate

September 8, 2017 7461 Views 0 comment Print

Natural Gas is covered under entry 15 of Schedule B of the Maharashtra Value Added Tax Act, 2002. The tax rate applicable is 13.5%. A new entry 16 has been added with effect from 24th August 2017 to the said Schedule for the purpose of sale of natural gas at a concessional rate of 3% by virtue of the above referred notification.

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